Watts Water Technologies, Inc. (NYSE:WTS) Shareholders Set to Receive $0.63 Quarterly Dividend

Watts Water Technologies, Inc. (NYSE:WTS) announced a quarterly dividend on Monday, November 2nd. Shareholders of record on Tuesday, December 1st will be paid a dividend of $0.63 per share by the technology company on Tuesday, December 15th. This represents a $2.52 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, December 1st.

Watts Water Technologies has raised its dividend payment by an average of 0.2% per year over the last three years and has increased its dividend every year for the last 13 years. Watts Water Technologies has a payout ratio of 25.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Watts Water Technologies to earn $13.95 per share next year, which means the company should continue to be able to cover its $2.52 annual dividend with an expected future payout ratio of 18.1%.

Watts Water Technologies Trading Up 2.1%

Shares of WTS stock opened at $354.87 on Tuesday. The business has a 50-day moving average price of $357.16 and a two-hundred day moving average price of $331.39. Watts Water Technologies has a 12-month low of $260.00 and a 12-month high of $394.54. The company has a quick ratio of 1.60, a current ratio of 2.66 and a debt-to-equity ratio of 0.05. The firm has a market cap of $11.85 billion, a P/E ratio of 29.01, a price-to-earnings-growth ratio of 3.33 and a beta of 1.15.

Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings data on Wednesday, August 5th. The technology company reported $3.66 EPS for the quarter, beating the consensus estimate of $3.34 by $0.32. The firm had revenue of $763.20 million for the quarter, compared to analyst estimates of $725.99 million. Watts Water Technologies had a return on equity of 19.16% and a net margin of 14.34%. The company’s revenue was up 18.6% on a year-over-year basis. During the same period in the prior year, the company earned $3.09 EPS. Equities analysts anticipate that Watts Water Technologies will post 12.87 EPS for the current fiscal year.

Insider Activity

In other news, insider Elie Melhem sold 1,096 shares of the business’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $359.55, for a total value of $394,066.80. Following the completion of the sale, the insider owned 7,867 shares of the company’s stock, valued at approximately $2,828,579.85. The trade was a 12.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Joseph Noonan sold 3,650 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $353.72, for a total value of $1,291,078.00. The SEC filing for this sale provides additional information. 1.00% of the stock is currently owned by insiders.

Institutional Trading of Watts Water Technologies

A number of institutional investors have recently made changes to their positions in WTS. Ashton Thomas Private Wealth LLC grew its holdings in shares of Watts Water Technologies by 8.6% in the third quarter. Ashton Thomas Private Wealth LLC now owns 1,563 shares of the technology company’s stock worth $554,000 after purchasing an additional 124 shares during the last quarter. Heritage Family Offices LLP bought a new stake in Watts Water Technologies during the 3rd quarter valued at $105,000. Kestra Advisory Services LLC raised its holdings in Watts Water Technologies by 470.1% during the 3rd quarter. Kestra Advisory Services LLC now owns 3,877 shares of the technology company’s stock valued at $1,373,000 after buying an additional 3,197 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in Watts Water Technologies by 45.5% during the 3rd quarter. Commonwealth Equity Services LLC now owns 5,194 shares of the technology company’s stock valued at $1,840,000 after buying an additional 1,624 shares during the last quarter. Finally, Chicago Partners Investment Group LLC purchased a new stake in Watts Water Technologies during the 3rd quarter valued at $316,000. Hedge funds and other institutional investors own 95.02% of the company’s stock.

About Watts Water Technologies

Watts Water Technologies, Inc designs, manufactures and sells products that manage the safety, efficiency, quality and flow of water in plumbing, heating and cooling systems. Its products serve residential, commercial, industrial and institutional applications, including new construction, renovation and infrastructure projects.

The company’s offerings include backflow prevention and water pressure management equipment, valves, regulators, drainage and plumbing products, water conditioning and filtration systems, water heaters, and solutions for hydronic heating and cooling.